inflation and output, and that terminating QE may be contractionary or expansionary, depending on the state of the economy at …

We assess the efficiency of monetary policy to guide inflation expectations in high and low regimes. Using quantile … regression we analyze the persistence of inflation expectations from the Consensus Economics Survey at different quantiles. We … Fed's unconventional monetary policy at the ZLB in thus ineffective in guiding inflation expectations. …

cointegration technique. Particular attention is given to the estimation and identification of the equilibrium price and R …

This paper investigates the empirical evidence on exchange rate pass through (ERPT) into CPI inflation for a set of …. We find that for four countries ERPT responds nonlinearly to inflation and for three of them it responds nonlinearly to …

severe in the case of the transition economies. We utilize a mixed-estimation method incorporating prior information from … VAR model is constructed to analyze monetary policy in the transition economies. The OECD information increases the …

staggered price setting will aim at minimising a weighted average of domestic and import price inflation …

In the paper we investigate, which shocks drive inflation in small open economies. We proceed in two steps. First, we … variables. Our results show that in two out of three analyzed countries the fluctuations of inflation are to the largest extent … inflation variability while for the third country the contribution of the commodity shock dominates over the output gap in …